A common

commercial policy A commercial policy (also referred to as a trade policy or international trade policy) is a government's policy governing international trade. Commercial policy is an all encompassing term that is used to cover topics which involve international ...

is several states coordinating some or all aspects of their trade policy. It is sometimes agreed by treaty within a

customs union A customs union is generally defined as a type of trade bloc which is composed of a free trade area with a common external tariff.GATTArticle 24 s. 8 (a) Customs unions are established through trade pacts where the participant countries set up ...

. In the case of the

European Union The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been des ...

, a form of the

EU's common commercial policy The European Union's (EU) Common Commercial Policy or EU Trade Policy is the policy whereby EU member states delegate authority to the European Commission to negotiate their external trade relations, with the aim of increasing trade amongst themse ...

has been in place since 1957. A common commercial policy is also an aim of Mercosur.

References

Commercial policy Economic integration International economics {{international-trade-stub